So you have your business plan. You’re ready to launch, as all the material you need is laid out in front of you ready for implementation. But wait, you can’t launch a business with no name right? How will people know what to call you by? One can look at it this way, your business is kind of like having a kid. You’ve got to be prepared for it, to make plans and think about their future. But to be a really good parent you’ve got to love your kid and give them a really special name. A new life is being born, the life of your new business and future. Words have a definite power in their meaning and how people perceive it upon first hearing. How do you want the sound of your business to be perceived? Names live on to be remembered and if you’re thinking about turning you business into a franchise, you want to be able to make that name ease across the country or even the globe.
Yanik Silver, a serial entrepreneur based in Potomac, MD, is the author of Maverick Startup: 11 X-Factors to Bootstrap From Zero to Six Figures and Beyond from Entrepreneur Press. Here is a summarized list of Silver’s article posted on Entrepreneur.com:
7 Tips for Naming Your Business
1. The name needs to sound good when it’s said aloud. Alliteration plays a big factor in saying a name aloud. When the consonants repeat such as in Coca-Cola or Jimmy John’s, there comes a flow in repeating those same sounds, making it easy for people to say it on the radio or in conversation.
2. Use a name that has meaning and conveys benefit. Make it clear as to exactly what you do, however make sure the name isn’t too generic either. For example, the book “Moonlighting on the Internet” conveys doing something in your spare time as moonlight has a subtle shine.
3. Avoid spelling that might confuse people. In some cases it may work, but keep in mind you’ll have to keep telling a potential clients looking up on the web that the word “you” is spelled with just a “u”.
4. Beware initials. They are so boring. Yes, IBM and 3M have gotten away with initials, but these are multibillion-dollar corporations that have been around for decades. You can do the same when you’ve brought in billions of dollars over a hundred years. Until then, rely on a name that is interesting.
5. Use specifics. Don’t use a generic name that doesn’t mean anything. Titles that include specific usage of numbers work successfuly such as “The 4-Hour Work Week”, “8 Minute Abs” and “5-hour Energy” to convey exactly what they do to hold attention.
6. Make sure you can trademark the name. Depending on how big you want to build the brand, this is an important consideration. It’s worth it to check USPTO.gov — or a new site called Trademarkia.com — before settling on a name.
7. Test it out on Google AdWords. One of the great features of the “find keywords” tool on AdWords is that it will list similar search phrases, along with how many global and local monthly searches each are getting. Some AdWords searches with the name you are considering can ensure there isn’t a slightly different name out there that might get more attention on the Internet.
If you really want to get advanced, try to come up with a name that could be eventually used as a verb, or lends itself to the creation of your own “language.” People who go to TED, the conference for Tech, Education and Design, now call themselves “TEDsters.” My company, Maverick Business Adventures, recalls “Maverick Moments” stories about happenings during a trip.
Think it through, and your name will be a multiplier in your favor.
To read the full article go here.
Sintel Systems doesn’t come up with names for your company, but we’ll provide you with some directions to a good name through our blog. We want to promote ideas for your business, but ultimately we just want you to be successful. Whether you are planning your first store or unsatisfied with your current POS provider, Sintel Systems can provide for you the one true POS stop that you have been looking for. Not only do we share our POS knowledge but any entrepreneurial knowledge that is vastly expanding all throughout the internet.
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